Neon Therapeutics (NASDAQ:NTGN) Downgraded to Neutral at Robert W. Baird

Neon Therapeutics (NASDAQ:NTGN) was downgraded by investment analysts at Robert W. Baird from an “outperform” rating to a “neutral” rating in a research note issued to investors on Thursday, The Fly reports.

A number of other brokerages have also issued reports on NTGN. Mizuho decreased their price objective on Neon Therapeutics from $21.00 to $7.00 and set a “buy” rating for the company in a report on Wednesday, November 20th. Bank of America lowered shares of Neon Therapeutics from a “buy” rating to a “neutral” rating in a research report on Wednesday, November 13th. Zacks Investment Research raised shares of Neon Therapeutics from a “hold” rating to a “buy” rating and set a $1.25 price objective for the company in a report on Saturday, January 4th. HC Wainwright reissued a “hold” rating on shares of Neon Therapeutics in a report on Thursday, December 19th. Finally, Morgan Stanley cut shares of Neon Therapeutics from an “overweight” rating to a “sell” rating in a research note on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. Neon Therapeutics has a consensus rating of “Hold” and an average target price of $10.54.

Shares of NTGN stock traded up $0.48 on Thursday, reaching $1.71. 4,355,037 shares of the stock were exchanged, compared to its average volume of 166,188. The firm has a 50 day moving average of $1.15 and a two-hundred day moving average of $2.27. Neon Therapeutics has a 1-year low of $0.88 and a 1-year high of $7.51. The company has a quick ratio of 4.59, a current ratio of 4.59 and a debt-to-equity ratio of 0.15. The stock has a market cap of $33.72 million, a P/E ratio of -0.31 and a beta of 1.35.

Neon Therapeutics (NASDAQ:NTGN) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.68) earnings per share for the quarter, missing the consensus estimate of ($0.64) by ($0.04). On average, equities research analysts predict that Neon Therapeutics will post -2.42 EPS for the current fiscal year.

In related news, insider Richard Gaynor sold 22,322 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $1.24, for a total value of $27,679.28. Following the sale, the insider now directly owns 201,822 shares of the company’s stock, valued at $250,259.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 38.93% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of NTGN. Morgan Stanley boosted its position in shares of Neon Therapeutics by 10.8% during the 2nd quarter. Morgan Stanley now owns 40,522 shares of the company’s stock worth $192,000 after purchasing an additional 3,939 shares in the last quarter. Marshall Wace North America L.P. acquired a new position in shares of Neon Therapeutics during the first quarter valued at about $49,000. Northern Trust Corp grew its holdings in shares of Neon Therapeutics by 8.5% during the second quarter. Northern Trust Corp now owns 166,467 shares of the company’s stock valued at $789,000 after buying an additional 12,971 shares during the last quarter. Tower Research Capital LLC TRC bought a new stake in shares of Neon Therapeutics during the third quarter worth about $25,000. Finally, Squarepoint Ops LLC bought a new stake in shares of Neon Therapeutics during the third quarter worth about $35,000. 58.19% of the stock is currently owned by hedge funds and other institutional investors.

About Neon Therapeutics

Neon Therapeutics, Inc, a clinical-stage immuno-oncology company, engages in developing neoantigen-targeted therapies for cancers in the United States. It is developing NEO-PV-01, a neoantigen vaccine that is in Phase Ib clinical trial in combination with nivolumab for the treatment of metastatic melanoma, non-small cell lung cancer, and bladder cancer; NEO-PTC-01, a neoantigen T cell therapy for the treatment of solid tumors; and NEO-SV-01, a neoantigen vaccine for the treatment of estrogen-receptor-positive breast cancer.

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